I've just received an offer of compensation from Lloyds on a Credit Card I held from 2000-2004.

The offer is for £970 plus just over £1000 interest. ... (this being 3 years after they said I didn't have PPI on the card)

I'm thinking that this is very much south of the actual figures involved, seeing as, when I closed the Credit Card Account in 2004, (by re-mortgaging), the balance was at £21,000, which was systematically built up over the 48 months, so roughly by £500 a month from account opening.

Any thoughts as to whether I should attempt to get CC statements for the period and refuse this offer ?

Many thanks

Hello and welcome,

Have they given you a breakdown of how they arrived at their figure, you could always send them a Subject Access Request for your statements to let you know what the score is regarding PPI payments you made.

Hi,

There is no breakdown of the actual PPI payments. The amount is stated as the difference in actual payments made towards credit card with it had PPI and the amount they've "assumed" I would have made had I not taken PPI ... (I was one of those that had a form with the box already ticked, or the box was ticked afterwards by someone else).

Amusingly, for the calculation, they have stated what the balance was on 1st April 2004 ... £0 ... and what it would have been had I not "bought" PPI ... Also £0.

Obviously, because I'd just paid it off by re-mortgaging ... The figure for the month before was a balance of £21,000 with PPI and who knows without PPI ....

Seems very underhand to me. It looks like I need to get the statements, as, after speaking with them, they don't seem to have actually looked at any facts, sounding surprised when I said how high the balance was when I closed it .....

sar time then

dx

I received the letter Friday, money in my account Monday, despite me saying I am disputing the amount ... Apparantly, "that's OK, you keep that, and if we find we owe you more, we'll just add to it !!!!" ......